Thread regarding Bank of America layoffs

Please describe the laying off process what to expect on the day of....

What can one expect on the day of being layed off? I know a person doesn't know in advance whether they will be severed or not, but how does it typically go down? Any insight from someone that has actually gone through the process would be helpful. I am preparing myself mentally and emotionally for next week. I just want to know how it happens exactly. Thank you and God bless all.

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| 2047 views | | 11 replies (last May 9, 2016) | Reply
Post ID: @OP+Hgze8TD

11 replies (most recent on top)

That's hilarious, I haven't heard from my manager or unit manager what so ever. I was escorted to a private room by another manager from another team where I was greeted by a unit manager that was not my own & someone else that I was unfamiliar with & then handed a package on 4/20. What comes around, goes around....

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Post ID: @3scy+Hgze8TD

It depends on the state of the team you're on. My group was reorganized several times and ultimately I was laid off along with several members of my team. In my case, the spineless idiot I was working for was not the person that actually spoke with me nor was the newest manager that was assigned to our team as that manager was only in place for a few weeks. Instead the arrogant prick who was a level up contacted me by phone and gave me the company line. It's all very sanitary and scripted and left me feeling incredibly relieved to not have to work with those people ever again. It's all perspective.

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Post ID: @2fzy+Hgze8TD

The best way to prepare would be to accept that it has happened already and start planning and deciding what you are going to do next. It doesn't make it easier, but it gives you a sense of purpose and direction for moving forward. Also organize your belongs as if you won't be there tomorrow - this will give you a chance to do it at your own pace and discretion as when it happens, it's brutal.

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Post ID: @1rkg+Hgze8TD

Layoff is typically done early in the morning, and to be followed by a general staff meeting to formally announce that the event has occurred. Your manager will MOC you and then talk to you over the phone about the bad news. Manager will be reading a "script" so to be precise in the wordings (HR mandated I assume) and the rationale behind the decision (ie, diminished projects, no funding, job elimination, whatever they can use to justify it). It's a fairly quick process, they cut off your access to the systems right away, as well as access to the buildings. So by noon, you're completely severed from the company and all accesses terminated. If you're in myWork, a mailer envelope with pre-paid postage will be sent to you so you can return the laptop, and other bank-owned devices in your possession. Once the bank has received all of them, only then the final check (or maybe online transfer) will be mailed. I think you'll need to sign a form first or something as part of the separation checklist. This is just my guess.

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Post ID: @1iqo+Hgze8TD

Thank you all for the responses, mentally preparing myself, the more knowledge we have about the process the better we can prepare, God bless and good luck

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Post ID: @1bwc+Hgze8TD

Either your manager or their manager (this was the case in latest round of layoffs in my group) will call you if you're my work and pretty much tell you that you're dunzo and tell you that your access will be shut down within 30 minutes. My suggestion is, if you have any personal docs stored on company laptop, send them to yourself now vs. waiting for that day if it comes. I'm ready, once I get the call which is very possible, I can log off immediately. Layoffs usually happens within first 2-3 hours of that day. I know people are criticizing us who want the layoff but I truly don't want to work under this kind of pressure anymore; my sanity is way more important at this point. Good luck everyone.

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Post ID: @1vaw+Hgze8TD

Even if u r mywork, your direct manager does it. They'll call you, with another manager on the line as a witness, and let you know your position was eliminated andand what your last day is (as far as payroll). They'll ask you to log out immediately and to return your equipment. You'll get your severance packet by UPS the next day.

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Post ID: @1gof+Hgze8TD

It usually is your direct manager, the find out the day before

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Post ID: @1oyw+Hgze8TD

I thought hr did the layoff, but you are saying it's your immediate manager?

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Post ID: @kxl+Hgze8TD

What if you are remote location?

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Post ID: @ppz+Hgze8TD

Your manager or their manager will call you in to an office and quickly tell you your position has been eliminated and hand you a packet with severance materials. They are instructed by HR not to engage in a conversation but just quickly let you know and hand over the paperwork. If you have questions they will refer you to the numbers included in the package so you can follow up. It quick and usually you need to pack up and leave immediately but it depends upon your job and level. People who were severed in my group were band 4 directors and vps and we're allowed to leave at their own pace.

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Post ID: @tyu+Hgze8TD

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